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Catherine Bolstad

Senior Vice President

CBRE Hotels Advisory | West Division


Hotels, Valuation & Advisory

Catherine Bolstad Senior Vice President Americas
Hotels, Valuation & Advisory
San Francisco 415 Mission Street
Suite 4600
San Francisco, CA 94105

Professional Background

Catherine Bolstad is a Senior Vice President of the CBRE Hotels Advisory West Division team. She assists in managing the San Francisco office. With more than a decade of professional experience in the hospitality industry, she offers expertise in strategic asset advisory assignments, acquisition and disposition due diligence, market and economic feasibility studies, complex asset and business valuation assignments, economic impact studies, litigation support, property tax appeals, and development and operational planning. Her consulting engagements cover all asset types including hotels, resorts, golf courses, conference centers, condominium hotels and the shared-ownership industry.


Clients include public REITS, private equity firms, all major sources of debt financing, all major hotel companies, and numerous municipalities and public agencies. During her tenure with CBRE Hotels, she has assisted clients on assignments throughout the United States including Hawaii, as well as Bermuda.

Ms. Bolstad holds a Bachelor's of Science degree from the University of San Francisco in Finance and Hospitality Industry Management. Prior to joining CBRE Hotels, Ms. Bolstad worked for the Hilton San Francisco Union Square in San Francisco, Colliers International Hotels, and TasteBuds, Inc. in Los Angeles.  She has spoken at industry events in the region and is regularly quoted in local media on hospitality and tourism topics.

Areas of Expertise
  • Economic, financial, and operational analysis and organizational and general consulting for the hospitality and related service industries
  • Economic analysis, market demand studies and development consulting for all phases of the real estate industry
  • Litigation support, general business planning, and valuation

Education & Professional Affiliations / Accreditations

  • University of San Francisco, Bachelor of Science – Finance and Hospitality Industry Management

Clients Represented

Major Clients
  • National Lending Institutions (Wells Fargo, HSBC Bank USA, GE Capital Real Estate)
  • Regional Lending Institutions (Preferred Bank, F&M Bank, Stockman Bank, United Overseas Bank)
  • Life Insurance Companies/Pension Funds (American National Life Insurance, AIG Investments, Dallas Police & Fire Pension Fund)
  • Public Real Estate Investment Trusts (Ashford Hospitality Trust, Pebblebrook Hotel Trust, Blackstone, Carey Watermark)
  • All Major Hotel Companies (Marriott International, Inc. Hilton Worldwide, InterContinental Hotels Group, Hyatt Hotels Corporation)
  • Various Municipalities and other Public Entities (City of San Francisco, City of Sacramento, City of Santa Rosa, City of San Bruno)
  • Major International Airports (Denver International Airport, San Francisco International Airport, Sacramento International Airport)
  • Law Firms and Legal Counsel (Cooley Godward Kronish, Perkins Coie)
  • Hotel Management Companies (Kimpton Hotel + Restaurant Group, Pacific Hospitality Group, Woodside Hotels, Benchmark Hospitality)
  • Private Sector Developers, Owners, & Investors

Significant Assignments

  • Developed a Fairness Opinion of Value related to the acquisition of five assets totaling $1.8 billion in a 1031
  • Like-King Exchange related to proceeds associated with the sale of the Waldorf Astoria New York
  • Provided twice-annual valuations for the Government Investment Corporation (GIC) of Singapore on the Grand Wailea Resort, Arizona Biltmore, and La Quinta Resort & Spa with total asset values of approximately $1.5 billion
  • Served as consultant to the Denver International Airport and developed a market demand analysis and prepared a statement of operating results related to a proposed 519-room Westin hotel located at DIA. Financing for the hotel was provided via Airport Systems Revenue Bonds (hotel opened in November 2015). 
  • Developed a forecast of lodging tax revenues for the City of Sacramento that will be available to fund the  expansion of the Sacramento Convention Center and the renovation of the Community Center Theater in downtown Sacramento, California
  • Valued literally hundreds of hotels and resorts located through the United States, including multiple hotel portfolios
  • Completed literally hundreds of market and economic feasibility studies for hotels across all chain scales and located throughout the United States
Catherine Bolstad Senior Vice President Americas
Hotels, Valuation & Advisory
San Francisco 415 Mission Street
Suite 4600
San Francisco, CA 94105